NEWARK, Del. (Business Wire) -- Sallie Mae (NASDAQ: SLM), formally SLM Corporation, today announced the
creation of the SLM Student Loan EDC Repackaging Trust 2013-M1. Through
this trust, Sallie Mae sold at face value $225 million of BBB-rated
bonds with a 3.05-year weighted average life and a 3.5 percent coupon
rate. The sale also included the entire residual interest of the trust.

The SLM Student Loan EDC Repackaging Trust 2013-M1 is collateralized by
the residual interests from SLM Student Loan Trusts 2006-8, 2006-9 and
2007-1. Sallie Mae will continue to service the student loans in the
underlying trusts under existing agreements. The transaction reduced
student loan assets by $6.6 billion and related liabilities by $6.4
billion. The gain from the transaction will add approximately $.23 to
Sallie Mae's second-quarter 2013 GAAP and core diluted earnings per
share.

Sallie Mae (NASDAQ: SLM) is the nation's No. 1 financial services
company specializing in education. Celebrating 40 years of making a
difference, Sallie Mae continues to turn education dreams into reality
for American families, today serving 25 million customers. With products
and services that include 529 college savings plans, Upromise rewards,
scholarship search and planning tools, education loans, insurance, and
online banking, Sallie Mae offers solutions that help families save,
plan, and pay for college. Sallie Mae also provides financial services
to hundreds of college campuses as well as to federal and state
governments. Learn more at SallieMae.com.
Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are
not sponsored by or agencies of the United States of America.

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